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What is the Renewable Energy Innovation Fund?
The Renewable Energy Innovation Fund is a program that provides funding to ACT businesses and ventures to support new business models and innovation to solve clean energy challenges and accelerate the uptake of clean energy initiatives.
Background
The Renewable Energy Innovation Fund was established with $12 million contributed by industry commitments associated with the ACT Government’s first and second wind auctions. This program aims to:
- support renewable energy companies based in the ACT
- attract new ventures to the ACT
- develop new research and trades training opportunities
- support the development of a renewable energy ecosystem.
Funding
Round 3 of Renewable Energy Innovation Fund Grants Program has up to $1.5 million in total funding available. This will be offered under a single funding round.
Projects can apply for funding between $50,000 and $300,000.
Applicants must have matched finding to support the ACT Government’s contribution either through private funds, Commonwealth Government funding, in-kind contributions or a combination of these sources.
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Eligible Projects
The Renewable Energy Innovation Fund supports:
- Grants funding – to support businesses to develop and commercialise innovative renewable energy and clean technology solutions.
- Trades training innovation – to establish world-class training facilities and programs for wind, solar and distributed battery storage installation. This will build on initiatives such as the Renewable Energy Skills Centre at the Canberra Institute of Technology.
- Energy research partnerships – to develop the capability of the ACT’s research institutions to provide applied research services to renewable energy and energy storage businesses. A Battery Storage and Grid Integration Program at the Australian National University is one of these funded partnerships.
- Energy innovation ecosystem – to provide networking opportunities to new and existing renewable energy and energy storage businesses in the ACT. Find out more at ACT Renewables Hub.
- Technology demonstration – to showcase innovative technologies, build industry capacity and reduce deployment costs in renewable energy and energy storage. Two funding streams are available.
Eligible Applicants
To be eligible, lead organisations must:
- have an Australian business number (ABN)
- hold all insurances required by law, including $10 million public liability insurance and workers compensation
- be an ACT based organisation or the majority of the proposed funded activities must occur within the ACT
- demonstrate a contribution to the ACT achieving net-zero emissions by 2045
- be registered for goods and services (GST) if applicable
- be able to achieve all project milestones within 3 years of commencement
- be able to demonstrate the minimum 1:1 matched funding contribution.
Generation, transport or green hydrogen products must be based entirely on renewable resources.
To apply for funding, all applicants need to be aware of the following:
- Organisations can apply for funding between $50,000 and $300,000 (excluding GST).
- Applicants must have matched funding to support the ACT Government’s contribution. This matched funding may be sourced from either private funds or Commonwealth Government funding, in-kind contributions, or a combination of these sources.
- Organisations must be able to demonstrate that they have sufficient funds and capabilities to commence and complete the project.
- Applications should be for renewable energy research, development, and innovation projects.
- Applicants must provide a plan outlining the proposed project and the funding requested, articulating the benefits to the zero emissions transition and the ACT economy
Timing
Applications close 16 January 2023.
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Call 1300 658 508
